Baltika Breweries not to pay any dividend for 2011

Baltika Breweries intends not to pay any share dividends for the year 2011 to the stockholders. Such was the recommendation offered to the shareholders by the company’s Board of Directors.

The shareholders of Baltika Breweries are going to consider a decrease in the company’s authorized capital. To do this, the BOD decided to announce an extraordinary general meeting; ballots can be submitted through March 16, 2012.

‘Baltika’s beer is sold in the low- and medium-price segments in our stores,’ Lenkom (owner of Napilnik beer markets) said to UrBC. The Federal Antimonopoly Service approved of Carlsberg Breweries’ buying Baltika and of their plans to enter the global market. Lenkom reports no price increase is to be expected. ‘Baltika will probably cost the same in the nearest future,’ the company’s experts say.

The shareholders of Polevskoy Cryolite Plant decided to pass the dividend for 2011 because of the net loss incurred last year. The decision was made in the course of the annual general meeting, Interfax-Ural refers to the plant as reporting. The plant’s net loss (calculated in accordance with the Russian Accounting Standards) came to 406.762m RUR in 2011. In fact, the plant paid no share dividend in 2010 as well – also due to losses. The stockholders approved of the annual report, elected the Board of Directors and the check-up committee and appointed Capital Audit Group as the company’s

Uralmashzavod’s BOD meeting resulted in the decision to recommend that the stockholders vote for passing last year’s dividend in the course of the AGM. ‘We recommend that the AGM should pass and not pay any ordinary or preference share dividend for 2011 because of the losses incurred in the financial year 2011,’ the company’s report states.